B’desh HC, Aptma agree to start direct shipping line

LAHORE - There is an urgent need of the start of a direct shipping line between Karachi and Chitagong, which will take five to 10 days against 25 to 30 days at present due to indirect shipping lines between the two countries.

This was stated by Chairman APTMA SM Tanveer while talking to High Commissioner of Bangladesh to Pakistan Sohrab Hussain during his visit to APTMA on Monday.

SM Tanveer also underscored the need of resolving banking issues, as the LC payment gets clear in 125 days against the standard period of 90 days. He said Pakistan’s total exports to Bangladesh stood at $718 million in 2013-14, out of which the textile exports were recorded at $709 million. The share of cotton cloth and cotton yarn is higher among all textile sector products to Bangladesh, which was recorded at $454 million and $117 million respectively in 2013-14, he added.

He said export of raw material from Bangladesh plays vital role for garment industry of Bangladesh, which requires more cooperation on the front of bilateral trade relations.

According to Chairman APTMA, the level of bilateral trade and investment can be improved by enhancing knowledge sharing, exchange of information at the institutional level, frequent exchange of information with counterpart organisations and adopting measures to increase bilateral trade and investment missions besides sharing of technical know how based on comparative advantages.

He also shared the steps taken up by his government in maximising the opportunity of GSP plus. He further said that against perception, Bangladesh had supposed GSP plus facility for Pakistan in actual. He also appreciated the ideas relating to trade and investment ties between Pakistan and Bangladesh.